Recently, there have been a lot of voices within the Fed regarding whether to cut interest rates in December, and the officials' opinions are quite divided. The media has already started to discuss this, stating that there are three key issues that are making it difficult for the decision-makers to come to a conclusion.

Let's first talk about tariffs. The current focus of debate is: will this wave of tariffs drive up prices as a one-time deal or will it continue to ferment? If it’s just a short-term pain, that's manageable, we can just endure it and it will pass. But if the subsequent effects keep piling up and inflation data continues to rise, then we need to reassess.

Looking at the job market again. Recently, recruitment has indeed cooled down a bit, but the question arises—are companies really reducing their workforce, or is it due to tighter immigration policies leading to a shortage of labor supply? These two situations are completely different in nature; the former indicates that the economy is weakening, while the latter is merely a structural contradiction. If the direction is judged incorrectly, the policy may go in the opposite direction.

The final point of contention is more direct: Are current interest rates tight enough? Some believe that they have been suppressed for long enough and it's time to ease up; others think that the efforts are still insufficient, and a hasty rate cut could undo previous progress.

To be honest, these discrepancies speak volumes - even the Fed itself hasn't fully grasped the economic trends. On one hand, there's a need to guard against rising inflation, while on the other, there's concern about a slowdown in growth. In this dilemma, it's really hard to say how the decision-making will unfold in December. For the crypto market, this uncertainty may actually bring about volatility opportunities.

Do you think there will be a rate cut before the end of the year? Will tariff factors become the last straw that breaks the camel's back?